By Reshmi Basu and Paul A. Harris
New York, May 20 - OJSC Gazprom, via its special pricing vehicle Gaz Capital SA, priced €1 billion of 10-year notes (Baa3/BB-/BB) at par to yield 5 7/8%, according to a market source.
The deal came at the lower end of price guidance. Guidance had been revised to 5 7/8% to 6% from initial guidance of the 6% area.
ABN Amro and Credit Suisse First Boston were running the Rule 144A/Regulation S deal.
The new issue comes under Gaz Capital's $5 billion euro medium-term note program. Gazprom will guarantee the notes.
The Moscow-based company is the world's largest natural gas producer.
| Issuer: | Gaz Capital SA
|
| Guarantor: | OSJC Gazprom
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| Amount: | €1 billion
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| Issue: | Loan participation notes
|
| Maturity: | June 1, 2015
|
| Coupon: | 5 7/8%
|
| Issue price: | Par
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| Yield: | 5 7/8%
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| Pricing date: | May 20
|
| Settlement date: | June 1
|
| Bookrunners: | ABN Amro, Credit Suisse First Boston
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BB-
|
| Fitch: BB
|
| Revised guidance: | 5 7/8% to 6%
|
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